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Bitcoin is struggling

While Bitcoin is fighting to defend the 2021 ATH around $69k

These altcoins are already trading below their 2022/23 bear market lows.

> $VET

> $APT

> $ICP

> $NEAR

In every cycle, Bitcoin usually leads the recovery.

Altcoins lag and that’s normal.

What’s not normal is when BTC is still above a previous cycle ATH

and major alts are breaking levels that held during peak fear in 2022.

That tells you liquidity is selective.

Capital is flowing into safety or projects from fresh narratives right now.

O

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